South Dakota § 58-7-35 Return of deposit of foreign insurer.

South Dakota Statutes

§ 58-7-35 — Return of deposit of foreign insurer.

South Dakota § 58-7-35

Title 58INSURANCE

Ch. 58-5CINSURERS' DEPOSITS WITH STATE

This text of South Dakota § 58-7-35 (Return of deposit of foreign insurer.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-7-35 (2026).

Text

The director shall direct the depository or custodian to return to a foreign insurer any deposit made pursuant to this title by the insurer, if:

(1)The insurer has ceased transacting business in this state, or in the United States, and the insurer is not subject to any liability in this state on account of which the deposit was held; or (2) The deposit is no longer required by any provision of law; or (3) The insurer, during its solvency has made a similar deposit in another state and has filed with the director the certificate or evidence thereof, under the conditions provided for in subdivisions 58-6-34(1) and (2).

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The director shall direct the depository or custodian to return to a foreign insurer any deposit made pursuant to this title by the insurer, if: (1) The insurer has ceased transacting business in this state, or in the United States, and the insurer is not subject to any liability in this state on account of which the deposit was held; or (2) The deposit is no longer required by any provision of law; or (3) The insurer, during its solvency has made a similar deposit in another state and has filed with the director the certificate or evidence thereof, under the conditions provided for in subdivisions 58-6-34(1) and (2).